The Real Deal New York

Feil buys Lenox Hill fitness mecca for $27M

Jeffrey Feil’s Feil Organization paid $27 million for a five-story building in Lenox Hill, known for its tenant roster of boutique fitness studios.

The seller, Acadia Realty Trust, bought the 12,250-square-foot building at 201 East 67th Street, at the corner of Third Avenue, for $18 million in 2013.

In 2011, spin studio Flywheel leased the third floor of the building, and later opened a Flybarre studio on the second floor. In 2015, fitness studio SLT opened on the fourth floor, and CrossFit competitor the Fhitting Room opened its third New York City location in the building’s penthouse. The ground-floor, home to retailer Vineyard Vines, is still a sweat-free zone.

Feil financed the acquisition with a $18 million loan from Bank of America, upping the previous $12.5 million mortgage on the property by $5.2 million. The building has an alternative address at 1151 Third Avenue.

The deal was brokered by RKF’s investment sales team, Brian Segall and George Martinecz, who represented both the buyer and seller. RKF represented Acadia on the purchase back in 2013 as well, and facilitated several of the tenant leases.

Acadia recently sold a 53,000-square-foot office building at 4055 10th Avenue in Inwood for $31 million, and is in the process of a condo conversion at a Noho property — that was originally known as the Empire State Building — with a $136 million sellout, among other projects.